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The ABCs of RBCs - An Introduction to Dynamic Macroeconomic Models (Hardcover) Loot Price: R2,770
Discovery Miles 27 700

The ABCs of RBCs - An Introduction to Dynamic Macroeconomic Models (Hardcover)

George McCandless

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Loot Price R2,770 Discovery Miles 27 700 | Repayment Terms: R260 pm x 12*

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"The ABCs of RBCs" is the first book to provide a basic introduction to Real Business Cycle (RBC) and New-Keynesian models. These models argue that random shocks--new inventions, droughts, and wars, in the case of pure RBC models, and monetary and fiscal policy and international investor risk aversion, in more open interpretations--can trigger booms and recessions and can account for much of observed output volatility.

George McCandless works through a sequence of these Real Business Cycle and New-Keynesian dynamic stochastic general equilibrium models in fine detail, showing how to solve them, and how to add important extensions to the basic model, such as money, price and wage rigidities, financial markets, and an open economy. The impulse response functions of each new model show how the added feature changes the dynamics.

"The ABCs of RBCs" is designed to teach the economic practitioner or student how to build simple RBC models. Matlab code for solving many of the models is provided, and careful readers should be able to construct, solve, and use their own models.

In the tradition of the "freshwater" economic schools of Chicago and Minnesota, McCandless enhances the methods and sophistication of current macroeconomic modeling.

General

Imprint: Harvard University Press
Country of origin: United States
Release date: March 2008
First published: April 2008
Authors: George McCandless
Dimensions: 239 x 162 x 35mm (L x W x T)
Format: Hardcover
Pages: 421
ISBN-13: 978-0-674-02814-2
Categories: Books > Business & Economics > Economics > Macroeconomics > General
LSN: 0-674-02814-7
Barcode: 9780674028142

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